Moving to fulfill his goal of reducing federal regulations by 75 percent, President Trump today signed an executive order mandating that two existing regulations be eliminated for each new one that’s promulgated.

“We don’t need 97 different rules to take care of one element,” Trump told a group of small-business owners meeting with him on Monday.

The order asks federal agencies to come up with a list of regulations to be cut so he and his staff can review them.

“There will be regulation, there will be control, but it will be a normalized control,” Trump later told reporters at the White House.